PPF (Public Provident Fund) Calculator

Rules, opening & closing

How to open, how to close, premature withdrawal rules, and main regulations for this scheme.

How to open a PPF account?

You can open a PPF account at a post office or at authorised banks (SBI, HDFC, ICICI, etc.). Carry identity proof (Aadhaar, PAN), address proof, and a passport-size photo. Fill the PPF account opening form and deposit the minimum amount (₹500). One account per person; a second account in the name of a minor is allowed as guardian.

How to close or withdraw at maturity?

On maturity (after 15 years), you can either close the account and withdraw the full balance or extend it in blocks of 5 years with or without further contributions. To close, submit Form 3 with passbook and KYC at the same branch/post office. The entire balance is paid (tax-free).

Can I close or withdraw prematurely? What are the rules?

Premature closure is allowed only after 5 years from the end of the financial year in which the account was opened, and only for: (1) treatment of life-threatening disease of self/spouse/children/parents, (2) higher education of self or children, or (3) purchase of a house, subject to conditions and limits. Partial withdrawal is allowed once per financial year from the 7th year, up to 50% of the balance at the end of the 4th year preceding the year of withdrawal or 50% of balance at the end of the preceding year, whichever is lower. Loan against PPF is allowed from the 3rd to 6th financial year (subject to limits).

What are the main rules and regulations?

Minimum deposit ₹500 and maximum ₹1,50,000 per financial year. Total of 12 deposits per year allowed; at least one deposit per year is mandatory. Tenure is 15 years, extendable in blocks of 5 years. Interest is tax-free and compounded annually. No attachment by court in certain cases. Nomination is permitted. Account is transferable between post office and banks.

Who is eligible and what documents are needed?

Any Indian resident individual (including minors through guardian) can open one PPF account. Documents: identity proof (Aadhaar/PAN), address proof, photograph, and completed application form. NRIs are not eligible to open a new PPF account; existing accounts can continue until maturity.